It’s an exciting experience when your teenager is finally ready for a new car. As a parent, this shows that your child is growing up. But buying a car is a huge financial decision you shouldn’t take lightly. That’s why you should make some considerations, including ensuring that your ideal vehicle has all the essential safety features. Furthermore, your teen won’t have much experience on the road, and teaching them respect for other drivers is crucial. To help put you on the path to making an informed decision, here are other things to keep in mind.
1. Guide Them on Responsible Driving
Before driving, your teen should learn to be a responsible driver. First, let them understand the importance of observing safety rules on the road. If they already have a license, spare time and drive with them. This is a great way to help them learn the rules and driving habits that may put them at risk. Additionally, they should know who they can drive with and when they can drive.
2. Involve Them in Decision Making
While you have the final say on the car your teenager can drive, involve them in the research and decision-making process. It’s fulfilling for them to know that they have a say in purchasing their future car. Of course, your teenager might want to drive the coolest sports car. But before they get their hopes up, talk with them about your budget and the car models they can own. In addition, let them pick at least two features their new ride should have (color and maybe the stereo system).
If you plan to take an auto loan for the car, request a financial contribution from their savings. This will help teach them about budgeting and financial responsibility.
3. Don’t Skimp on Safety
Teens are among the riskiest drivers, so safety should be the top of your concerns while purchasing a vehicle. According to the Illinois Department of Transportation, over 313,000 car accidents were recorded in 2015. This number also accounts for crashes caused by teen drivers. So, when shopping for a vehicle for your teenager, ensure it includes safety features like a rear camera and emergency braking systems.
You should also consider how the size of a vehicle can impact its safety. For example, mid-sized sedans offer better crash protection than compact cars. They also have a low center of gravity, making them less likely to roll over.
4. Learn Ways to Get a Good Deal
If you have an ideal car in mind, visiting different dealerships will help you better understand its price. According to IBISWorld, America has about 143,348 used car dealerships. That said, when shopping for a used car in a dealership, focus more on the car’s condition than the price. This might require calling an independent mechanic to check the condition and perform a test drive.
Don’t always fall for a dealer’s first offer. If you lack good negotiation skills, ask a friend or family member to negotiate the purchase. Using the help of someone with no emotional attachment to a vehicle is an excellent idea because they won’t accept a high price willingly, as you might.
Purchasing a vehicle at the close of a financial quarter is also smart. During this time, dealerships strive to meet their quarterly sales, so they may be willing to give you a good deal. If possible, avoid buying a vehicle during busy weekends.
5. Take Driving Classes
Before your teenager can start driving, they should enroll in a driving school. You’ll find many classes taught by professionals in your neighborhood that offer driving courses in a solo or group setting. This is an excellent way for your child to learn about the rules on the road. The other learning option worth considering is online driving courses.
According to Grand View Research, the e-learning market was worth $144.7 billion in 2020 and is expected to expand at a Compounded Annual Growth Rate (CAGR) of 9.1% between 2021 to 2028. Online classes are better than in-person classes because they offer flexibility and are less expensive. Students can also easily review the course materials.
Your teenager owning a car is an exciting experience, but the challenging process is how to buy it. This should not be a problem anymore, as the tips mentioned above should get you closer to purchasing your ideal car. Check out our website for more family content and parenting tips.